Debtor The Debt Payoff Calculator is a simple budgeting tool that has two modes: A Per-Month calculator for debts such as a credit card, and a By-Months calculator for debts such as a home loan that would be amortized over the number of months you specify.
In Per Month mode, you can see at a glance how much those credit cards are really costing you. Simply enter in your balance, the APR, and how much you pay per month. Debtor will show you how much you will be paying in interest as you pay off the balance of the credit card. It is a useful financial tool when you are thinking about buying something with credit, or if you are working out your budget to pay off current cards.
Use the By Months calculator to get an amortized monthly payment amount based on a given number of months. The By Months calculator is ideally suited to calculate mortgage payments if you are looking to buy a house, or any other large purchase such as a car loan.
Use the compare feature to see how changes to the monthly payment or number of months can save you money (or cost you more money)! Once you enter your comparison values, tap the Results button to see your results clearly displayed in green how much you would save, or in red how much more you would pay for each scenario.